Governors Island Rezoning Approval Opens Door to Nearly 4M-sf of New Development Potential

On Thursday, June 27, 2021 the City Council gave the green light to the rezoning of the south end of Governors Island. Under the amended zoning, the potential exists for new development of up to nearly 4 million square feet across 34 acres, with uses to include university space, hotels, offices, research facilities and retail. Revenue expected to be generated by the proposed development will help fund the maintenance of the island and turn it into a year-round public attraction.